Total Apparel Group (TAG), a US-based licensing, distribution and merchandising company, has acquired a minority interest in US-based loose leaf tea company Village Tea Company Distribution (Village Tea).
Through this acquisition, Village Tea will offer two seats from its board of directors, along with key management roles to TAG.
Village Tea founder and current president Martin Ekechukwu said that this acquisition is aimed at increasing the sales footprint of the company's current product line through existing channels of distribution.
"As we look toward the future we will also seek to leverage the licensing and distribution experience and resources of TAG to explore various brand extension opportunities into new categories such as tea accessories, branded bottle beverages, various tea based products, retail, co-branded tea infused beverages and other opportunities that fit within the brands overall long term goals and objectives," Ekechukwu added.
TAG can also acquire a further interest in Village Tea at the company's discretion in future.
TAG CEO Janon Costley said, "Martin has done a wonderful job in creating the Village Tea brand and he will continue to play an extremely pivotal role in guiding the product development and sales efforts for Village Tea moving forward."
Village Tea offers loose leaf teas and tea accessories that are currently available in several major retailers in North America including Vitamin Shoppe, Whole Foods and Amazon.
